Far East acquires local air-con services firm for $7 mil; to spin it off in Catalist listing

Samantha Chiew
Samantha Chiew3/5/2019 07:28 AM GMT+08  • 1 min read
Far East acquires local air-con services firm for $7 mil; to spin it off in Catalist listing
SINGAPORE (Mar 5): Far East Group announced that it has acquired the entire issued and paid-up ordinary shares in M-Tech Air-Con & Security Engineering.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Mar 5): Far East Group announced that it has acquired the entire issued and paid-up ordinary shares in M-Tech Air-Con & Security Engineering.

The vendors are Quek Poh Chuan and Lee Sui Fook and the consideration for the acquisition is $7 million including 2.98 million new M-Tech shares.

M-Tech's core business is to provide Air Conditioning and Mechanical Ventilation (ACMV) services for residential and commercial buildings. It has an issued and paid up capital of $0.5 million divided into 0.5 million ordinary shares.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now